In his opening remarks, Deputy Minister of Industry and Trade Truong Thanh Hoai affirmed that Vietnam is not only seeking to develop offshore wind projects and add power to the national grid, but also aiming to build domestic industrial capacity, acquire and gradually master relevant technologies, develop human resources, and establish a network of businesses capable of participating in regional and global offshore wind supply chains.

The deputy minister expressed his hope that equipment manufacturers would explore cooperation with Vietnamese partners and share international experience in offshore wind development, thereby supporting Vietnam in building a sustainable and competitive offshore wind industry while ensuring energy security.

At the discussion session, representatives of the ministry, offshore wind developers, equipment manufacturers and international financial institutions, including CIP, Siemens and KfW, discussed Vietnam’s offshore wind investment potential and the Vietnamese Government’s plans to achieve an offshore wind capacity target of 17GW by 2035, including measures to attract international investment to the country.

Speaking to Vietnam News Agency correspondents in Berlin, CEO of GWEC Ben Backwell said Vietnam was attracting strong interest in offshore wind development thanks to its favourable conditions, including abundant wind resources along its extensive coastline, a rapidly growing economy and rising electricity demand.

He noted that Vietnam’s electricity demand could increase further amid the crisis in the Strait of Hormuz, while electrification in areas such as electric vehicles and other sectors was also progressing rapidly.

The GWEC CEO said Vietnam first needs a clear legal framework and transparent conditions. The Government and businesses should also establish mechanisms to ensure that risks are shared fairly among stakeholders. In addition, supporting infrastructure for offshore wind, particularly transmission infrastructure and the power grid, needs to be adequately prepared.

Backwell said Vietnam needs to implement its first projects and bring them into operation to attract substantial investment. As the number of projects increases, costs will also come down.

He said GWEC members are currently interested in both power generation and project development, as well as industrial manufacturing. Their manufacturing interests cover a wide range of areas, from wind turbine and foundation production to construction vessels and other components. Members are also interested in transmission infrastructure, including power grids and substations./.